For decades, it's been an oasis of agricultural land at the intersection of Interstate 64 and the Watterson Expressway. But the family trusts that control Oxmoor Farm may be reviving long-delayed plans to develop what is perhaps the most desirable acreage in Louisville. More >>

For decades, it's been an oasis of agricultural land at the intersection of Interstate 64 and the Watterson Expressway. But the family trusts that control Oxmoor Farm may be reviving long-delayed plans to develop what is perhaps the most desirable acreage in Louisville. More >>

LOUISVILLE, Ky. (WDRB) -- The special University of Louisville Foundation meeting set for Labor Day has been called off because of concerns raised by the U of L Board of Trustees.

The executive committee Foundation’s Board of Directors were supposed to hold the extremely rare meeting on the federal holiday at 5 p.m. amid speculation that foundation President James Ramsey could resign, perhaps in exchange for a payout from the organization.

The agenda for the meeting included a closed-door session to discuss a personnel issue.

Dr. Robert Hughes, the foundation’s chairman, did not return calls on Sunday evening and Monday morning.

On Saturday – before the special meeting was called – Hughes said “no comment” when asked about the possibility of a buyout for Ramsey from the foundation post.

U of L spokesman John Karman referred questions to Hughes.

Ramsey is under contract with the foundation through 2020, but because he resigned the university presidency on July 29, the foundation can terminate him immediately with no financial consequences.

Ramsey has said he’d like to continue as foundation president to wrap up some real estate projects, and one foundation board member encouraged him to stay on at a meeting in June.

The vast majority of Ramsey’s compensation has come from the foundation, which is the custodian of donations to the university and the manager of its $680 million endowment.

In 2012, Ramsey’s total compensation from the foundation was $3.2 million; followed by $1.8 million in 2013 and $2.8 million in 2014, according to the organization’s public tax returns.

A no-strings-attached resignation by Ramsey would not require the foundation board to meet, but a buyout or settlement that involves money would require a board action.

The foundation’s executive committee includes five of its 15 board members and is generally empowered to act on behalf of the full board. However the committee does not have the power to “remove” Ramsey, who is an "officer" of the foundation, according to the board’s bylaws.

Hughes, a longtime Ramsey ally, remains on the foundation board only because of a judge’s order temporarily blocking Gov. Matt Bevin’s abolition of the university’s Board of Trustees.

Bevin’s lawyers are asking the Kentucky Court of Appeals to overturn that order in the coming weeks – a move that would put Bevin’s chosen board back in power and result in Hughes and three other current trustees losing their foundation board seats.

The Louisville family that owns the Al J. Schneider Co. is headed back to court after failing to settle their differences over the future of the firm and its $300 million in assets, despite private talks that went on for nearly a year.

The Louisville family that owns the Al J. Schneider Co. is headed back to court after failing to settle their differences over the future of the firm and its $300 million in assets, despite private talks that went on for nearly a year.

The University of Louisville Foundation cut ties with a financial consultant it had hired on a contract last month after he was charged Wednesday with stealing from the pro-shop at the U of L Golf Club.

The University of Louisville Foundation cut ties with a financial consultant it had hired on a contract last month after he was charged Wednesday with stealing from the pro-shop at the U of L Golf Club.

A former top official in Gov. Matt Bevin’s administration has been hired as a senior executive with Braidy Industries, the company that plans to build a $1.3 billion aluminum rolling mill in Greenup County with the help of a $15 million investment from state taxpayers.

A former top official in Gov. Matt Bevin’s administration has been hired as a senior executive with Braidy Industries, the company that plans to build a $1.3 billion aluminum rolling mill in Greenup County with the help of a $15 million investment from state taxpayers.

Gov. Matt Bevin said Kentucky will be going full throttle to convince Japanese automakers Toyota and Mazda that the Bluegrass state is the ideal location for a $1.6 billion factory they plan to build in the United States.

Gov. Matt Bevin said Kentucky will be going full throttle to convince Japanese automakers Toyota and Mazda that the Bluegrass state is the ideal location for a $1.6 billion factory they plan to build in the United States.

Gov. Matt Bevin won his fight with Jefferson County tax officials over the value of the historic mansion and surrounding acreage he bought for his family’s residence earlier this year in an east Louisville suburb.

Gov. Matt Bevin won his fight with Jefferson County tax officials over the value of the historic mansion and surrounding acreage he bought for his family’s residence earlier this year in an east Louisville suburb.